Tag: Desperation
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Desperation for forex and 18 percent Treasury Bills “Awoof”! By Henry Boyo
By Henry Boyo “The Central Bank of Nigeria offered six and 12-month Treasuries, at yields higher than the country’s inflation rate to lure yield-hungry investors and attract dollar inflows.” “Notably, the CBN sold a total of N204.96bn ($650.67m) in bills, on 19th July 2017. Meanwhile, “Annual inflation rate has reportedly eased to 16.1 percent.” However,…